Instructions: Using Microsoft Excel to solve the following problems. Create a new tab for each of the three problems. Use referencing and formulas; no referencing or formulas will result in a grade of o for that question (note: exception being the MRP worksheet - specifics are noted within the problem statement below) 2. EOQ Problem (5 marks) It is estimated that we have an annual demand of 24,000 units during the year. Holding costs are estimated to be $1.25 per item. Cost of purchasing is estimated to be $100.00 per order. Orders require a lead time of 2 working days, and we work 365 days per year. Given the information above, what would be the EOQ? Note: Round your EOQ value to the nearest whole number (no decimals; use the rounded number in any of the subsequent formulas. Using the rounded EOQ value, calculate the following (your answers are to be rounded to 2 decimal places): a) average inventory b) number of orders to be placed per year c) the reorder point d) annual setup and holding costs e) total cost for managing the inventory